Finextra: Nacha to rewrite rule book for mobile payments
US electronic payment association Nacha is proposing amending its rules to cater for an expected surge in mobile payments processed over the national ACH network.
The proposed rule change would expand the definition of Internet-Initiated Entries (WEB) to include ACH debits authorised and/or initiated via mobile networks.
Nacha says the changes would clarify the entry classifaction standard for mobile payment processing over the ACH network and provide a framework for basic risk management and security procedures.
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